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Mumbai, Maharera A fine of Rs 5.8 lakh has been imposed on 12 developers for issuing advertisements of their projects in newspapers without mentioning the registration number.
After taking cognizance of the advertisements, Maharera SS moto notice issued to promoters of 54 projects in the state Its officials will now monitor project advertisements on social media platforms as well and developers, who advertise there without MahaRERA registration number, will be penalised.
The amount of penalty imposed on the 12 developers varies. A fine of Rs 10,000 was imposed on one for publishing an advertisement which mentioned the registration number in a small font. is one of 12 developers MumbaiWhile the rest are from Pune, Nashik and Aurangabad.
A MahaRERA official said, “The amount of the fine is broadly commensurate with or proportional to the size and cost of the advertisement issued in the newspapers.” The maximum fine imposed was Rs 1.5 lakh Rungta Buildcon From Nashik, Interestingly, 11 of these developers had MahaRERA registration numbers but did not mention them in their advertisement.
Out of 54 projects in the state, MahaRERA heard 15 of these projects in the first stage and took action against 12 projects.
As per the Real Estate Act, any project with a land area of more than 500 square meters or eight flats has to be registered with MahaRERA and the registration number has to be mentioned in any advertisement of the project.
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